no buy, no pay clause

no buy, no pay clause

A clause in a real estate listing contract that excuses the seller from paying a real estate commission if the broker produces a buyer who is ready, willing, and able to purchase the listed property for the asking price,but the seller changes his or her mind and refuses to sell at all,or refuses to sell to that particular buyer.Without such an unusual clause,the broker has earned the commission when he or she produced such a buyer,and the owner will have to pay even though the owner declines to sell the property.

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